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The blood coagulants market is dynamically shaped by several variables. Blood coagulants, which manage clotting abnormalities and prevent excessive bleeding, are in demand due to aging populations, rising cardiovascular disease rates, and more surgeries. Effective and fast hemostasis in medical and surgical settings drives the demand for these coagulants.
Blood coagulants market dynamics depend on technology. These products evolve due to new anticoagulants, coagulation diagnostic methodologies, and administration systems. Point-of-care coagulation testing devices are becoming more widespread, allowing doctors to make rapid decisions for clotting disease patients. These innovations improve patient care and boost market competition.
The rising prevalence of chronic illnesses like VTE and atrial fibrillation shapes market dynamics. Blood coagulants are in demand due to increased knowledge and prevention. The rising number of surgeries and medical treatments, particularly cardiovascular and orthopedic operations, increases the demand for better coagulation control, driving market growth.
Blood coagulant safety and adverse effects are market dynamics challenges. To avoid blood clots and bleeding, anticoagulant medication must be carefully managed. Research and development of safer and more focused blood coagulants is crucial due to the risk of side effects. Some anticoagulants are expensive, which may limit their availability in resource-constrained healthcare systems.
Blood coagulant market dynamics are shaped by regulations. Stringent regulatory procedures for product approval and commercialization affect industry companies' development schedules and market entrance tactics. Clinical blood coagulant safety and efficacy depend on regulatory compliance.
Blood coagulant market dynamics depend on regional healthcare demands, illness prevalence, and economic considerations. Blood coagulants are more popular in developed countries with modern healthcare systems and high cardiovascular disease rates. The need of proper coagulation management is becoming more apparent in emerging nations, creating development potential for market participants that adjust their tactics to these locations.
Global Blood Coagulants Market Highlights:
Blood Coagulants Market Overview
Blood Coagulants Market Size was valued at USD 3.12 Billion in 2023. The Blood Coagulants industry is projected to grow from USD 3.39 Billion in 2024 to USD 6.16 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.86% during the forecast period (2024 - 2032).
The market is driven by factors such as increased bleeding disorders, the rise in the research activities and the increase in the healthcare project grants provided by public and private organizations, among others. Additionally, the growing awareness created by various non-profit organizations, as well as government campaigns helps to drive the growth of the market.
For instance, the World Federation of Hemophilia (WFH) launched a Development Grant Program (DGP) in 2018 to encourage innovative ideas and projects to support the inherited bleeding disorders community globally. Moreover, key companies are actively involved in spreading awareness. For instance, in April 2018, CSL Behring shipped more than 10 million international units (IUs) of its medicines to treat hemophilia A to developing countries through the non-profit World Federation of Hemophilia (WFH) on account of World Hemophilia Day on April 17. The medicines were sent to countries like Vietnam, Cameroon, and others through the WFH’s Global Alliance for Progress (GAP) Program, which seeks to improve the diagnosis and treatment of bleeding disorders in developing countries.
On the other hand, the lack of awareness regarding blood clotting and its severity, the high cost of diagnostic tests in some economies, and the rising counterfeit drugs are restraining the growth of blood coagulants market. For instance, according to the statistics published by the National Hemophilia Foundation, annually 75% of hemophilic people worldwide receive inadequate treatment or have no access to treatment.
Moreover, major companies in the market are involved in strategic collaborations, and new product launches to brace their position in the market. For instance, in May 2016, CSL Behring announced the US FDA approval of AFSTYLA, a recombinant factor VIII Single Chain Therapy for Hemophilia A. Similarly, the drug received approval from European Commission (EC) in January 2017.
Blood Coagulants Market Segmentation
The market of blood coagulants has been segmented into type and indication. The market, based on type, has been segmented into coagulation factor and others. The market, by coagulation factor, has been further segmented into recombinant coagulation factor and plasma-derived coagulation factor. The market, by indication, has been sub-segmented into hemophilia, surgery, and other bleeding disorders.
The market has been segmented, by region, into the Americas, Europe, Asia-Pacific, and the Middle East & Africa. The blood coagulants market in the Americas has further been segmented into North America and Latin America, with the North American market divided into the US and Canada. The European market of blood coagulants has been segmented into Western Europe and Eastern Europe. Western Europe has further been classified as Germany, France, the UK, Italy, Spain, and the rest of Western Europe. The blood coagulants market in Asia-Pacific has been segmented into Japan, China, India, South Korea, Australia, and the rest of Asia-Pacific. The market of blood coagulants in the Middle East & Africa has been segmented into the Middle East and Africa.
Blood Coagulants Market Regional Analysis
Geographically, the Americas is expected to dominate the market of blood coagulants due to the increasing per capita healthcare expenditure. The rise in product innovation and heavy adoption of new technology is anticipated to drive the growth of the market.
Europe showed a considerable amount of market growth in the blood coagulants. The market growth in this region is because of the presence of a well-established healthcare system and increase in marketing approvals and authorizations in the region. For instance, in June 2018, Octapharma announced that the European Medicines Agency (EMA) had approved an extension of marketing authorization for its product, Nuwiq, a human cell line-derived recombinant factor VIII (rFVIII) for the treatment in patients with hemophilia A.
Asia-Pacific is estimated to be the fastest growing region in the market due to the increasing number of welfare programs, coupled with the substantial generation of disposable income. Additionally, the increase in people suffering from bleeding disorders also propels the growth of the market in this region. According to the statistics published by Hemophilia Foundation Australia, Von Willebrand Disease (VWD), an inherited bleeding disorder affects approximately 200,000 people annually in Australia.
On the other hand, the Middle East & Africa has the least share of the market due to the poor access to treatment, and limited screening and diagnostic services in the region.
Blood Coagulants Type Outlook
- Coagulation Factor
- Recombinant Coagulation Factor
- Plasma-Derived Coagulation Factor
- Others
Blood Coagulants Indication Outlook
- Hemophilia
- Surgery
- Other Bleeding Disorders
Blood Coagulants Region Outlook
- Americas
- North America
- US
- Canada
- Latin America
- Europe
- Western Europe
- Germany
- France
- Italy
- Spain
- UK
- Rest of Western Europe
- Eastern Europe
- Asia-Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia-Pacific
- Middle East & Africa
- Middle East
- Africa
Blood Coagulants Market Key Players
- Aptevo Biotherapeutics LLC
- Baxalta US Inc.
- Baxter Laboratories
- Bayer AG
- CSL Behring
- GRIFOLS USA
- LLC
- Novo Nordisk A/S
- Octapharma
- Pfizer
- Shire
- SOBI
Intended Audience
- Pharmaceutical Companies
- Research and Development (R&D) Companies
- Government Research Institutes
- Academic Institutes and Universities
- Venture Capitalists
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